Bitcoin 1D Trendline, 18th Oct is Final Date - page 2.

traderethereum

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Quote from: worldofcoins on September 21, 2022, 07:11:31 AM

Quote from: judaspriest on September 21, 2022, 04:38:30 AM

many experts have also said that Bearish will end in October, of course if you look at the chart you made,
indeed the Trendline until October is the determining support and resistance for Bitcoin,
yes we don't know whether Bitcoin will go up or even dump, because market sentiment is still very bad for bitcoin

We might see the reversal in November.
I don't think we'll continue with the bearish moment for a very long time this time around.
The same might happen as it happened in 2020 when bitcoin skyrocketed.

I think there's a possibility that we might see bitcoin around 45K$ before the year ends.

Hopefully, it really happens in November so we will get a surprise before the new year Grin

I can't predict how long the bearish moment will last in the market because the current conditions are far different from a few years ago.
There have been a lot of big players who bought bitcoins and sold them for big profits and I think in the current bearish moment, they can also get the moment to buy more bitcoins.
Many people would like to see the price of bitcoin be at a higher price than now or $45k and even higher but we still need to be patient because the end of the year is less than 3 months away.

btc_angela

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Quote from: judaspriest on September 21, 2022, 04:38:30 AM

many experts have also said that Bearish will end in October, of course if you look at the chart you made,
indeed the Trendline until October is the determining support and resistance for Bitcoin,
yes we don't know whether Bitcoin will go up or even dump, because market sentiment is still very bad for bitcoin

Hmm, and we are these experts though? Because if you look at bitcoin's past history and unless the cycle has change, then the bear market will continue up to 2023. I'm not trying to scare anyone, but that's what the market has been in the past.

So as far as October 18th, still 50/50, it might and might not happen. There could be some events that will invalidate this TA, or it could really be that we might see lower lows.

worldofcoins

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Quote from: judaspriest on September 21, 2022, 04:38:30 AM

many experts have also said that Bearish will end in October, of course if you look at the chart you made,
indeed the Trendline until October is the determining support and resistance for Bitcoin,
yes we don't know whether Bitcoin will go up or even dump, because market sentiment is still very bad for bitcoin

We might see the reversal in November.
I don't think we'll continue with the bearish moment for a very long time this time around.
The same might happen as it happened in 2020 when bitcoin skyrocketed.

I think there's a possibility that we might see bitcoin around 45K$ before the year ends.

fzkto

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Good calculation, but it seems too simple to me. I think the sideways movement could easily continue. I don't believe in such simple triangles, especially as anyone can draw a similar triangle but with different peaks and dates can be different. But the fact that bitcoin is bumping the support line makes me think that we might really hit a new bottom soon.

DVlog

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Quote from: judaspriest on September 21, 2022, 04:38:30 AM

many experts have also said that Bearish will end in October, of course if you look at the chart you made,
indeed the Trendline until October is the determining support and resistance for Bitcoin,
yes we don't know whether Bitcoin will go up or even dump, because market sentiment is still very bad for bitcoin

Crypto winter is coming. It is not going to go up that easily. We could see a big accumulation zone from the whale and then a sudden dump to buy more from the last of the remaining diamond hands. In the bigger picture I am always bullish about bitcoin but this year it will be a hard one for BTC holders. I will not put in more money until the end of this year.

judaspriest

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C O M B O

many experts have also said that Bearish will end in October, of course if you look at the chart you made,
indeed the Trendline until October is the determining support and resistance for Bitcoin,
yes we don't know whether Bitcoin will go up or even dump, because market sentiment is still very bad for bitcoin

pooya87

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Quote from: ImThour on September 21, 2022, 02:13:33 AM

Let me know what you think what's going to happen

I don't think at times like this we can speculate the market by analyzing the charts. There is a lot going on in the world that is significantly affecting the economy which in turn has caused panic in bitcoin market. On top of that we have a massive FUD campaign (most of it well funded too like the $5 million Ripple paid Greenpeace recently to spread FUD about bitcoin) and market manipulation (the obvious sell pressure where they keep dumping to break the supports).

Market has shown good potential for a big jump up and pushing it lower than $20k has proven to be extremely difficult. But if they don't run out of bitcoins to dump or not reach their maximum acceptable losses during this market manipulation we could see that support break and we could head towards $15k and lower too.

DudeAtWork420

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Quote from: ImThour on September 21, 2022, 02:13:33 AM

Hi,

This is a 1D Timeframe chart of Bitcoin, you can see Bitcoin has recently retested the trendline.
If we take a horizontal line from previous low of Bitcoin i.e. $17.6k, 18th Oct '22 is a really important date.

Either Bitcoin breaks the trendline and fly high or we drop below our previous cycle bottom i.e. $17.6k
Days left for 18th Oct '22: 27 Days

Let me know what you think what's going to happen

In trading view chart different timeframe of bitcoin market shows different sign of price action. I think all these is bit messy and can only be use for a short term trade. For a long term all this looks too much complicated.

What i believe is btc will test more bottom because miners still in profit. They will keep selling till btc price reaches their break even points of mining cost. Right now that price is around 13k and whale could take it further down to eliminate big future position. So my expectation is btc will probably test 10k or below that level once before gaining upper momentum.

EarnOnVictor

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The trendline diagram is a powerful trading tool and simple at the same time. I was surprised not to have seen it here until I started using it on the BTT. I hope the popularity will increase because many are solely relying on the indicators to trade. However, anyone using trendline should not use it alone, as many other confirmations are needed so that the trader will not look like a fool at times. What you had written might or mightn't happen, it is the market that has the final say. You didn't also write the breakout level of the trendline, so how are we supposed to know your breakout point to comment on whether it will or will not break the price?

As for me, my bias toward Bitcoin remains bearish this week. But this would be reversed if 20483.67 and 21818.75 are broken upward.

ImThour

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Bitcoin Bottom was at $15.4k

Hi,

This is a 1D Timeframe chart of Bitcoin, you can see Bitcoin has recently retested the trendline.
If we take a horizontal line from previous low of Bitcoin i.e. $17.6k, 18th Oct '22 is a really important date.

Either Bitcoin breaks the trendline and fly high or we drop below our previous cycle bottom i.e. $17.6k
Days left for 18th Oct '22: 27 Days

Let me know what you think what's going to happen

Topic: Bitcoin 1D Trendline, 18th Oct is Final Date - page 2. (Read 282 times)